Vail Resorts (VAI) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jun 04, 2026

Before Open (Confirmed)

Period Ending

2026 (Q3)

Consensus EPS Forecast

8.1

Last Year’s EPS

9.04

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 11 Analysts Ratings

Earnings Call Summary

Q2 2026

Earnings Call Date:Mar 09, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call conveyed a balanced message: the company faced significant, atypical weather-driven headwinds that materially reduced visitation, lift revenue and resort EBITDA and required lowering full-year guidance. At the same time, management highlighted meaningful positives — a large and growing pass base (≈75% of visits), early traction on new products and pricing, record guest satisfaction, stronger-than-expected cost savings from the transformation plan, and a healthy balance sheet and liquidity position. Given the magnitude of the weather-related financial impacts but also the clear operational and strategic progress and capital strength, the tone is cautious but constructive.

Company Guidance

Vail narrowed fiscal 2026 guidance, now expecting net income attributable to Vail Resorts of $144 million to $190 million and resort reported EBITDA of $745 million to $775 million, with cash taxes of about $95 million to $105 million; management noted greater variability in the range given unprecedented Rocky Mountain conditions and assumes the rest of the season is consistent with current North American levels. The downgrade was driven by severe weather — Rockies snowfall down ~43% year‑over‑year (≈40% below fiscal 2012), February ~9°F warmer than average, only ~70%–80% of acres opened in Colorado/Utah through end of February — and season‑to‑date metrics (skier visitation down ~12%, lift revenue down ~4%, Q2 net revenue ~‑5%, Q2 resort EBITDA ~‑8%, committed pass visitation ~‑14% vs non‑pass lift ticket visitation ~‑6%). Despite the hit, Vail expects to exceed its Resource Efficiency Transformation $100M annualized savings target by about $6M (≈$106M) and to deliver roughly $42M of incremental FY‑26 savings before about $15M of one‑time operating expenses. Liquidity and capital priorities remain intact: liquidity of ~ $1.1 billion, net leverage ~3.1x trailing‑12‑month EBITDA, retirement of $525M convertible debt and credit extension to 2031; reaffirmed core CapEx $215M–$220M (total CapEx $234M–$239M), quarterly dividend maintained at $2.22/share, and opportunistic buybacks (0.3M shares for $45M YTD); pass metrics remain a stabilizer with pass units up ~55% over five years, pass holders ~75% of annual visitation and pass sales ~+3% heading into the season.

Large and Growing Pass Base Provides Stability

Pass units have grown ~55% over the past 5 years and pass holders now represent ~75% of annual visitation, with pass sales up ~3% heading into the season—providing material revenue stability despite weather volatility.

New Product and Pricing Initiatives Showing Early Traction

Launches this season (Epic Friends, 1-month advanced lift tickets, targeted Epic Day price updates and a new 20% discounted product for younger guests) generated positive early results—Epic Friends redemptions exceeded legacy benefit tickets and drove visitation growth versus declines across traditional ticket types.

Targeted Pass Pricing Changes and Young Adult Discount

Company announced Epic and Epic Local pass price increases of ~3%–4% before taxes, introduced a ~20% discount for younger skiers/riders (targeting ages ~13–30 / 18–30) to drive long-term engagement, and began passing through ~3% sales/lift tax on multi-resort passes.

Record-High Guest Satisfaction

Achieved record-high system-wide guest satisfaction scores this season with year-over-year improvements in Colorado and Utah, attributed to frontline execution and guest-facing investments.

Resource Efficiency Transformation Outperforming Target

Expect to exceed the initial $100 million annualized savings target by ~ $6 million (i.e., ~ $106M) and deliver ~ $42M of incremental savings versus the prior year for fiscal 2026 (before ~ $15M of one-time operating expenses).

Strong Liquidity and Capital Flexibility

Ended the quarter with ~ $1.1 billion of liquidity, net leverage of 3.1x trailing-12-month EBITDA, retired $525M of convertible debt during the quarter, and amended credit facility extending maturity to 2031.

Capital Allocation Discipline and Shareholder Returns Maintained

Reaffirmed calendar year 2026 core CapEx of $215M–$220M (total CapEx $234M–$239M), maintained quarterly dividend at $2.22 per share, and repurchased 0.3M shares for ~$45M year-to-date.

Technology and Guest Experience Investments

Ongoing investments in guest-facing technology (mobile pass, My Epic app, new CMS rollout) and snowmaking/operations expected to enhance personalization, commerce and the customer experience going into future seasons.

Vail Resorts (DE:VAI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:VAI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jun 04, 2026	2026 (Q3)	8.10 / -	9.037	―	―	―
Mar 09, 2026	2026 (Q2)	5.14 / 5.03	5.624	-10.52% (-0.59)	―
Dec 10, 2025	2026 (Q1)	-4.42 / -4.46	-3.953	-12.80% (-0.51)	―
Sep 29, 2025	2025 (Q4)	-4.05 / -4.36	-4.004	-8.78% (-0.35)	―
Jun 05, 2025	2025 (Q3)	8.61 / 9.04	8.179	10.48% (+0.86)	―
Mar 10, 2025	2025 (Q2)	5.51 / 5.62	4.939	13.89% (+0.69)	―
Dec 09, 2024	2025 (Q1)	-4.29 / -3.95	-3.944	-0.22% (>-0.01)	―
Sep 26, 2024	2024 (Q4)	-3.62 / -4.00	-2.872	-39.40% (-1.13)	―
Jun 06, 2024	2024 (Q3)	8.57 / 8.18	7.013	16.63% (+1.17)	―
Mar 11, 2024	2024 (Q2)	5.18 / 4.94	4.424	11.63% (+0.51)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:VAI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 09, 2026	€113.99	€110.06	-3.45%
Dec 10, 2025	€118.97	€115.10	-3.25%
Sep 29, 2025	€118.15	€120.06	+1.61%
Jun 05, 2025	€124.92	€125.86	+0.75%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.